Players in Global Confectionery Market Cater to Evolving Demand for Innovative as well as Nostalgic Flavors

Players in Global Confectionery Market Cater to Evolving Demand for Innovative as well as Nostalgic Flavors

Published on : Nov 29, 2016

ALBANY, NY, Nov 29, 2016: The report titled “Global Confectionery Report”, offers readers a clear understanding of where the market stands today and its growth trajectory in the coming years. As per the findings of the study, the global confectionery market is anticipated to rise from a value of US$158.4 bn in 2015, registering a modest 3.6% CAGR from 2015 to 2020. The market is majorly restricted by a growing shift toward e-commerce, the trend of healthy eating, increasing ingredient costs, and issues pertaining to the sustainability of cocoa.

The report sheds light on the key distribution channels for confectionery around the world and the leading packaging materials used in the industry. By distribution channel, the confectionery market comprises health and beauty stores, hypermarkets and supermarkets, cash and cash carriers, warehouse clubs, department stores, general merchandise retailers, dollar stores, and variety stores. The regional and global share of each of the distribution channels has been included in the study. Based on packaging material, the report studies flexible packaging, rigid plastics, rigid metals, wrappers, films, and sachets and bags. The consumption breakdown of these materials for confectionery packaging and their percentage share of number of units sold have been provided in the report. On the basis of confectionery category, the market includes gum, sugar, and chocolate.

By distribution channel, hypermarkets and supermarkets dominate the confectionery market, while flexible packaging has emerged as the most commonly used solution in the industry. Sugar confectionery accounts for the leading share as far as private label products are concerned.

Geographically, Asia Pacific is one of the most promising markets for confectionery, with the demand stemming mostly from developing countries such as India, China, and Japan. North America is also a major confectionery market. Developed countries such as the U.K., the U.S., and France present a demand for new, exotic, and different flavors whereas developing markets report the demand for products with nostalgic flavors. The confectionery market in Latin America, on the other hand, is expected to report a decline, according to the predictions made by the authors of the report. This section of the publication takes into account various factors to study the top 50 countries based on economic development, governance, market assessment, technological infrastructure, and social demographics.

The global market for confectionery is noted to be increasingly fragmented and the top five brands in the world accounted for a mere 7.1% share in 2015. These international brands are Dairy Milk, Trident, Snickers, Milka, and Ferrero Rocher. The study includes a detail overview of the competitive landscape, shedding light on the regional as well as global players operating in this market. Recommendations by industry experts have been offered for manufacturers, which deal with positioning, formulation, occasion, packaging, key segments, and consumer targets.